How do I estimate my property value?

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asked Apr 12 in Other-Finance by RoseannDillon (8,720 points)

1 Answer

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answered Apr 12 by IsiahHenderson (11,080 points)

The value of a property is usually assessed by taking the various factors like location of the property, what sort of condition it is in, and its demand, utility, and transferability. When you know the value of your property, it becomes easier for you to fix a reasonable price for it. However, doing this can be very difficult on your own and won’t help you make an informed decision.

You can easily estimate your property's value by using the various valuation tools available on the internet. They are also known as AVM, which stands for Automated Valuation Model.

You can ask a real estate broker or agent for a Comparative Market Analysis. They will prepare a document for you and help you decide what a reasonable listing price for your property can be.

You can also choose to hire a professional appraiser who will evaluate your property's value. They will study the various factors such as location, physical characteristics of your house, the changes and improvements made to your house and how much it has depreciated, among other factors.

You can also choose to use the House Price Index (HPI) calculator to determine the rate at which your house has appreciated since it came into your possession.

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